Caterpillar Inc. (NYSE:CAT) Stock Position Trimmed by S&CO Inc.

Key Points

• S&CO Inc. has reduced its stake in Caterpillar Inc. by 0.5%, owning 114,895 shares valued at approximately $37.89 million.
• Caterpillar's quarterly dividend will increase from $1.41 to $1.51 per share, representing an annual yield of 1.39%.
• JPMorgan Chase & Co. raised its price target for Caterpillar from $395 to $475 and assigned an "overweight" rating to the stock.

S&CO Inc. decreased its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 0.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 114,895 shares of the industrial products company's stock after selling 627 shares during the quarter. Caterpillar comprises 2.5% of S&CO Inc.'s portfolio, making the stock its 9th biggest holding. S&CO Inc.'s holdings in Caterpillar were worth $37,892,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Geode Capital Management LLC raised its position in Caterpillar by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 10,449,770 shares of the industrial products company's stock valued at $3,790,841,000 after purchasing an additional 236,315 shares in the last quarter. Northern Trust Corp raised its position in shares of Caterpillar by 11.8% in the 4th quarter. Northern Trust Corp now owns 6,847,330 shares of the industrial products company's stock worth $2,483,937,000 after acquiring an additional 724,477 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Caterpillar by 8.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,940,391 shares of the industrial products company's stock worth $1,429,416,000 after acquiring an additional 312,878 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Caterpillar by 43,447.3% in the 1st quarter. GAMMA Investing LLC now owns 3,730,259 shares of the industrial products company's stock worth $1,230,239,000 after acquiring an additional 3,721,693 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Caterpillar by 2.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,181,535 shares of the industrial products company's stock worth $1,154,174,000 after acquiring an additional 82,579 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company's stock.

Insider Transactions at Caterpillar

In other news, Director David Maclennan bought 375 shares of the business's stock in a transaction dated Wednesday, May 7th. The shares were acquired at an average price of $320.70 per share, for a total transaction of $120,262.50. Following the completion of the transaction, the director owned 6,653 shares of the company's stock, valued at approximately $2,133,617.10. This trade represents a 5.97% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.33% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Citigroup reissued a "buy" rating and issued a $420.00 price target (up from $370.00) on shares of Caterpillar in a research report on Tuesday, June 24th. Sanford C. Bernstein reissued a "market perform" rating on shares of Caterpillar in a research report on Monday, July 14th. Baird R W raised Caterpillar from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. Melius raised Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 target price on the stock in a research report on Wednesday, July 9th. Finally, JPMorgan Chase & Co. upped their target price on Caterpillar from $395.00 to $475.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $419.33.

Caterpillar Price Performance

Shares of NYSE:CAT traded down $9.17 during midday trading on Friday, hitting $428.85. The company had a trading volume of 3,987,796 shares, compared to its average volume of 2,703,172. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $441.15. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.32 and a quick ratio of 0.77. The stock has a market cap of $202.01 billion, a price-to-earnings ratio of 20.90, a price-to-earnings-growth ratio of 2.72 and a beta of 1.38. The business's 50-day simple moving average is $383.95 and its 200-day simple moving average is $353.96.

Caterpillar (NYSE:CAT - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share for the quarter, missing the consensus estimate of $4.35 by ($0.10). Caterpillar had a return on equity of 53.77% and a net margin of 15.71%. The business had revenue of $14.25 billion during the quarter, compared to analysts' expectations of $14.64 billion. During the same quarter in the previous year, the company posted $5.60 earnings per share. The company's revenue was down 9.8% on a year-over-year basis. On average, research analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Monday, July 21st will be issued a dividend of $1.51 per share. This is a positive change from Caterpillar's previous quarterly dividend of $1.41. The ex-dividend date of this dividend is Monday, July 21st. This represents a $6.04 dividend on an annualized basis and a yield of 1.4%. Caterpillar's dividend payout ratio (DPR) is presently 29.43%.

Caterpillar Profile

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.